Michigan CUs MBLs up 15.8% through Q3
LIVONIA, Mich. (1/5/16)--A Michigan ice cream shop is delighting customers thanks to a credit union business loan. It’s one of the many small business success stories made possible thanks to Michigan credit unions, which reported double digit business loan growth through the third quarter of 2015.
Through third quarter of 2015 Michigan Credit Union business lending increased by 15.8% compared with the same period in 2014 (Monitor Jan. 4).
Michigan Credit Union League President/CEO Dave Adams told the story of Browndog Creamery, Northville, Mich., which was able to open after receiving a MBL from DFCU Financial CU. Browndog was turned down for credit by several banks, Adams said
“We take great pride in the role credit unions play in their communities in helping Michigan continue to be an incredible comeback story,” Adams said.